Wealthfront (NASDAQ:WLTH) Trading Down 4.7% – Should You Sell?

Wealthfront (NASDAQ:WLTH) dropped 4.7% during trading on Monday . The company traded as low as $8.29 and last traded at $8.30. Approximately 136,414 shares changed hands during trading, a decline of 92% from the average daily volume of 1,607,351 shares. The stock had previously closed at $8.71.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WLTH. Wall Street Zen upgraded shares of Wealthfront from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Zacks Research raised shares of Wealthfront to a “hold” rating in a research note on Thursday, January 15th. The Goldman Sachs Group set a $12.00 price target on shares of Wealthfront in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company decreased their price objective on Wealthfront from $16.50 to $15.50 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.75.

Wealthfront Trading Up 0.6%

Wealthfront (NASDAQ:WLTH) last issued its quarterly earnings data on Monday, January 12th. The company reported $0.21 EPS for the quarter. The firm had revenue of $93.22 million for the quarter.

Institutional Investors Weigh In On Wealthfront

A number of large investors have recently made changes to their positions in WLTH. UBS Group AG purchased a new position in shares of Wealthfront during the fourth quarter valued at approximately $2,243,000. Geode Capital Management LLC bought a new stake in Wealthfront in the fourth quarter valued at $1,749,000. Gabelli Funds LLC purchased a new position in Wealthfront during the 4th quarter valued at $264,000. Dag Ventures LLC purchased a new position in Wealthfront during the 4th quarter valued at $187,725,000. Finally, Wealthfront Advisers LLC bought a new position in Wealthfront in the 4th quarter worth $326,000.

About Wealthfront

Wealthfront (NASDAQ:WLTH) is a technology-driven wealth management firm that provides automated investment services to individual investors. Operating as a robo-advisor, the company uses algorithms and software to construct and manage diversified portfolios largely composed of low-cost exchange-traded funds (ETFs). Its platform is geared toward long-term, goal-based investing with an emphasis on passive strategies, automated rebalancing and straightforward user experience delivered through web and mobile applications.

The company’s product suite includes automated portfolio management, tax-loss harvesting and goal-planning tools that help clients set and track financial objectives.